The Aleph Blog – 12 December 08
Relatively stable debt levels until the middle of the Reagan Administration, and then a rapid increase over the next 23 years. The increase was faster for the second term of Reagan, and for Bush, Jr, and slower for Bush, Sr, and Clinton. That said, the increase in financial intermediation accelerated during the terms of Bush, Sr, and Clinton. Securitization was running ahead, and no one was questioning it.
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